July 26, 2019
Trends in Insurance | How Can We Prevent Fraud?
Across the board, insurers found they were experiencing a huge…
With physical and online information security always growing stronger and harder to crack, fraudsters gravitate toward the weakest link in your security—your voice channels. The insurance industry has been plagued with a 248% increase in phone fraud since 2015 – and that number will continue to rise. With fraud exposure high and long periods of time between attacks, the life insurance industry is hit by fraudsters using tactics including creating counterfeit documentation and social engineering to commit policy fraud, claims fraud, and data breaches. These tactics all suit their main goals – obtaining your customers personal information and financial gain.
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